In-Depth Analysis
Zimbabwe
External factors have continued to place added pressure on an already strained economy. Zimbabwe once again faces a period of extreme macroeconomic instability as political fragilities have seen the economy come undone again. Inflation is running rampant, the local currency struggles to gain traction, and nearly the entire country is out of formal employment.
Given years of economic decay, it is unlikely that Zimbabwe will produce robust annual expansions over the next few years. The road to recovery will therefore be a slow one, but it could be quickened should Zimbabwe manage to take advantage of rising commodity prices, by activating the nascent primary sector. That said, the country has registered no improvement in its human rights record and, as a consequence, Western governments have maintained sanctions and remain ambivalent about engagement. As hardships mount, those who are able to quit the country opt to do so, adding to Zimbabwe’s already sizeable diaspora. (Source: Zimbabwe Quarterly Update, published February 2021)
Macroeconomic Data
(2020)
|
Fiscal Balance (as a % of GDP) |
0.4 |
|
Consumer Price Index (% change y-o-y, avg) |
621.5 |
|
Current Account Balance (as a % of GDP) |
0.4 |
|
Real GDP (annual % change) |
-15.0 |
|
GDP per Capita, US$ |
1,021.5 |
|
Import Cover (months) |
0.3 |
|
Population, million |
14.9 |
| Total External Debt (as a % of GDP) |
95.0 |